FOX (NASDAQ:FOX) Stock Rating Upgraded by Zacks Research

FOX (NASDAQ:FOX) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Rothschild & Co Redburn set a $71.00 price target on shares of FOX in a research note on Friday, July 10th. Citigroup reissued a “buy” rating on shares of FOX in a research note on Friday, July 17th. Finally, Weiss Ratings lowered shares of FOX from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.33.

FOX Stock Down 0.8%

FOX opened at $51.94 on Thursday. The company has a quick ratio of 2.65, a current ratio of 2.90 and a debt-to-equity ratio of 0.60. The firm has a market cap of $21.82 billion, a P/E ratio of 13.70, a PEG ratio of 1.49 and a beta of 0.57. FOX has a 52 week low of $44.08 and a 52 week high of $68.18. The business’s fifty day simple moving average is $52.04 and its 200 day simple moving average is $55.13.

FOX (NASDAQ:FOX) last posted its quarterly earnings data on Monday, May 11th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.30. FOX had a return on equity of 18.90% and a net margin of 10.56%.The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.78 billion. As a group, equities research analysts anticipate that FOX will post 4.78 EPS for the current fiscal year.

Institutional Trading of FOX

A number of hedge funds have recently added to or reduced their stakes in FOX. Brown Brothers Harriman & Co. grew its holdings in FOX by 336.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock valued at $35,000 after buying an additional 475 shares during the period. Versant Capital Management Inc increased its stake in shares of FOX by 42.3% during the 2nd quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock valued at $40,000 after acquiring an additional 251 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of FOX during the 4th quarter worth about $83,000. Geneos Wealth Management Inc. boosted its position in shares of FOX by 95.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock worth $76,000 after acquiring an additional 703 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of FOX by 130.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock worth $119,000 after acquiring an additional 1,301 shares during the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

Key FOX News

Here are the key news stories impacting FOX this week:

• Positive Sentiment: FOX’s previous reported quarter was stronger than expected, with earnings of $1.32 per share versus the $1.02 consensus estimate and revenue of $3.99 billion, above the $3.78 billion forecast. This provides a favorable comparison point ahead of the upcoming report.
• Neutral Sentiment: Fox Corporation is expected to announce quarterly results on Thursday, making the earnings release the stock’s primary near-term catalyst. FOX projected quarterly earnings announcement
• Neutral Sentiment: Several Fox News headlines involving domestic crime, U.S. foreign policy and international conflicts were published during the period. While such coverage may support audience engagement for Fox News, the articles do not indicate a direct change to Fox Corporation’s financial outlook.
• Negative Sentiment: Analysts and market commentary anticipate a year-over-year decline in FOX’s upcoming fourth-quarter earnings, while the company is not viewed as having the “right combination” of factors for a likely earnings beat. That expectation is the clearest reason for cautious trading ahead of results. Fox Q4 earnings preview

About FOX

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.